05/17/2016 - Holladay presents The Promenade at Founders Square

Holladay Properties is pleased to announce the The Promenade at Founders Square, a new $37 million mixed-use development, and the largest single investment in Holladay’s nearly 65-year history.

The Promenade at Founders Square accelerates the City of Portage’s vision of a new downtown district. This vision is already well on its way, with recent public investments in the popular Founders Square Park including a new Central Avenue Fire Station, Police Station, and an outdoor entertainment pavilion adjacent to Founders Square, which will debut in July.

The initial five buildings at the Promenade will break ground first and will frame Founders Square Park, offer both residential and ground floor commercial space with sidewalk pedestrian access.

"This is a game changer," said City Engineer John Hannon. "It's going to be the new downtown. It's the most exciting thing going on in Portage.

The project utilizes innovative building materials to create an historic downtown feel consistent with City plans for its downtown. Holladay has been working with the City of Portage and surrounding property owners to plan this walkable urban community since 2014.

“Holladay is ecstatic to be moving forward with this project” said Drew Mitchell, Vice President of Development for Holladay Properties, who is serving as the Project Manager for this development. “Our hat goes off to the City for having the bold vision and for steadfastly working with Holladay to bring about this exciting development. The City Council, Mayor’s office, Redevelopment Commission, and City Planning Department have all provided valuable input, and we believe our plan will not only be embraced by the community, but also act as a catalyst for new development in Portage’s downtown.”

Holladay is publicly releasing for the first time the final design plans of The Promenade at Founders Square, as depicted in an artist rendering looking northwest from Founders Square Park. New residents and patrons of downtown businesses will have convenient pedestrian access to the public amenities available at Founders Square Park and the entertainment pavilion.

"It shows the level that we've raised the community to and the quality of life and everything that goes on around it in the next two to three years is going to be something amazing to see," said Mayor James Snyder.

This urban lifestyle is currently in high demand by both the millennial and empty nester demographic groups. Businesses interested in locating to the Promenade will have ground floor opportunities for office, retail, and restaurant space.

Holladay Properties provides development, leasing and property management services for the Promenade at Founders Square, which is owned by an investment group led by the Portage, Indiana office of Holladay. For leasing information please contact Michael O’Connor of Holladay Properties at 219-764-3104.